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Cryptoquant: Coinbase’s cbBTC Could Challenge Bitgo in Wrapped Bitcoin Market

Bitcoin.com
Cryptoquant: Coinbase’s cbBTC Could Challenge Bitgo in Wrapped Bitcoin Market
Bitcoin
Cryptoquant: Coinbase’s cbBTC Could Challenge Bitgo in Wrapped Bitcoin MarketThis week, Cryptoquant researchers highlighted a new rivalry heating up in the wrapped bitcoin market, with Coinbase’s cbBTC stepping up to challenge Bitgo’s long-established reign. Coinbase’s Wrapped Bitcoin Token cbBTC Shakes Up Market Coinbase introduced its wrapped bitcoin token, cbBTC, in mid-September 2024, and it has swiftly expanded to a supply of 1,670 cbBTC, according […]
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<div>Bitcoin 'diamond hand' sell-off risks outpacing ETF inflows at K</div>

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

BitGo deploys wrapped BTC on Avalanche and BNB Chain

Coin Telegraph
BitGo deploys wrapped BTC on Avalanche and BNB Chain
BitGo

Crypto custodian BitGo is now using LayerZero’s OFT Standard to deploy its WBTC across more than 80 chains. 

Cryptocurrency custody platform BitGo has adopted LayerZero’s Omnichain Fungible Token (OFT) Standard for its Wrapped Bitcoin (WBTC), enabling the asset to operate across multiple blockchain networks.

According to a Sept. 10 announcement, BitGo is deploying WBTC on Avalanche and BNB Chain as part of the rollout, with more chains to be included. Prior to this advanced rollout, WBTC was available on networks such as Ethereum, Base, Tron, and Polygon.

Wrapped Bitcoin (WBTC) is a tokenized version of Bitcoin (BTC) that allows holders to use BTC value in decentralized finance (DeFi) applications for trading, lending, and liquidity. Each WBTC is backed 1:1 by Bitcoin. According to data from CoinGecko, the token's market capitalization was $8.8 billion at the time of writing.  

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<div>Bitcoin 'diamond hand' sell-off risks outpacing ETF inflows at K</div>

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Crypto Whale Facing Liquidation of $26,470,000 WBTC Position on Compound: Lookonchain

The Daily Hodl
Crypto Whale Facing Liquidation of ,470,000 WBTC Position on Compound: Lookonchain
Bitcoin
Crypto Whale Facing Liquidation of ,470,000 WBTC Position on Compound: Lookonchain

A crypto whale with a $26.47 million position in Wrapped Bitcoin (WBTC) is cutting it close after barely escaping liquidation last Friday. According to on-chain data tracker Lookonchain, a deep-pocketed whale with an Ethereum (ETH) address beginning with Oxceef was close to being liquidated on the decentralized finance (DeFi) platform Compound after Bitcoin dropped to […]

The post Crypto Whale Facing Liquidation of $26,470,000 WBTC Position on Compound: Lookonchain appeared first on The Daily Hodl.

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<div>Bitcoin 'diamond hand' sell-off risks outpacing ETF inflows at K</div>

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

DeFi protocol Threshold proposes Bitcoin wrapper merger to ‘save WBTC’

Coin Telegraph
DeFi protocol Threshold proposes Bitcoin wrapper merger to ‘save WBTC’
BiT Global

The proposal would effectively transfer control of WBTC to Threshold. 

Bitcoin (BTC) decentralized finance (DeFi) protocol Threshold is proposing to merge its own BTC “wrapper” token, tBTC, into Wrapped Bitcoin (WBTC) in a bid to “save WBTC” following concerns about an impending change in control of the popular BTC wrapper, according to an Aug. 29 proposal in Threshold’s governance forum.

On Aug. 9, BitGo — the cryptocurrency custodian holding the Bitcoin backing WBTC — announced a planned partnership with BiT Global, a Hong Kong-based crypto exchange. Per the partnership, which aims to diversify WBTC’s United States-centric footprint, BiT Global is expected to gain partial control of the multisignature wallet custodying WBTC’s Bitcoin backing. 

“This announcement has proven controversial due to the involvement of Justin Sun, with many in the ecosystem, expressing concern over his ‘affiliated projects show worrying signs of possible misappropriation’ of collateral,” Threshold’s proposal said.

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<div>Bitcoin 'diamond hand' sell-off risks outpacing ETF inflows at K</div>

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Save WBTC: Threshold Network Proposes Sweeping Changes to Wrapped Bitcoin Custody

Bitcoin.com
Save WBTC: Threshold Network Proposes Sweeping Changes to Wrapped Bitcoin Custody
bitcoin.com
Save WBTC: Threshold Network Proposes Sweeping Changes to Wrapped Bitcoin CustodyThreshold Network has proposed a plan to enhance the stability and security of Wrapped Bitcoin (WBTC) by replacing its centralized custody model with Threshold’s decentralized system. This move comes in response to recent concerns within the decentralized finance (defi) ecosystem over the current custody arrangements for WBTC. Threshold Network Proposes Decentralized Custody Model for WBTC […]
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<div>Bitcoin 'diamond hand' sell-off risks outpacing ETF inflows at K</div>

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Coinbase Hints at the Launch of Its Wrapped Bitcoin Alternative on Base

Bitcoin.com
Coinbase Hints at the Launch of Its Wrapped Bitcoin Alternative on Base
BASE
Coinbase Hints at the Launch of Its Wrapped Bitcoin Alternative on BaseCoinbase, one of the largest U.S.-based cryptocurrency exchanges, has hinted at the launch of its own wrapped bitcoin alternative, cbbtc. On X, Coinbase posted the currency name, followed by another post stating that it was coming soon. Jesse Pollak, the creator of Base, Coinbase’s incubated L2, declared that they were “going to build a massive […]
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<div>Bitcoin 'diamond hand' sell-off risks outpacing ETF inflows at K</div>

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

WBTC Custody Changes Prompts Defi Moves, Bitgo CEO Disregard Concerns

Bitcoin.com
WBTC Custody Changes Prompts Defi Moves, Bitgo CEO Disregard Concerns
BiT Global
WBTC Custody Changes Prompts Defi Moves, Bitgo CEO Disregard ConcernsThe recent announcement of the custody change of WBTC, a wrapped version of bitcoin, has prompted a negative reaction in decentralized finance (defi) protocols that reject Justin Sun’s disclosed relation with the project. Bitgo is moving WBTC custody to a joint venture with Bit Global, another custodian, to diversify custody locations and decentralize private keys […]
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<div>Bitcoin 'diamond hand' sell-off risks outpacing ETF inflows at K</div>

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Declining But Dominant: WBTC Maintains Market Lead Over BTCB, RBTC, LBTC, and Other Derivatives

Bitcoin.com
Declining But Dominant: WBTC Maintains Market Lead Over BTCB, RBTC, LBTC, and Other Derivatives
/r/btc
Declining But Dominant: WBTC Maintains Market Lead Over BTCB, RBTC, LBTC, and Other DerivativesThe Wrapped Bitcoin (WBTC) protocol, initiated by Bitgo in 2019, holds the title of the largest BTC derivative project by market capitalization, and to date, no other project has exceeded its scale. Nonetheless, the past few years have seen a significant decline in the number of wrapped bitcoins in circulation, with more than 32% of […]
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<div>Bitcoin 'diamond hand' sell-off risks outpacing ETF inflows at K</div>

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Hacker Returns Nearly All of $68,000,000 Worth of Crypto Stolen From Whale Wallet: On-Chain Data

The Daily Hodl
Hacker Returns Nearly All of ,000,000 Worth of Crypto Stolen From Whale Wallet: On-Chain Data
Address poisoning
Hacker Returns Nearly All of ,000,000 Worth of Crypto Stolen From Whale Wallet: On-Chain Data

A hacker who managed to steal nearly $70 million in crypto from a whale has returned almost everything, according to on-chain data. Earlier this month, a hacker successfully phished a whale using what’s known as an “address poisoning” scheme. The scheme involves sending someone a small amount of crypto with an address that looks similar […]

The post Hacker Returns Nearly All of $68,000,000 Worth of Crypto Stolen From Whale Wallet: On-Chain Data appeared first on The Daily Hodl.

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<div>Bitcoin 'diamond hand' sell-off risks outpacing ETF inflows at K</div>

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Wrapped Bitcoin (WBTC) Wallet Loses $69,300,000 Worth of Crypto in Apparent Address Poisoning Scam

The Daily Hodl
Wrapped Bitcoin (WBTC) Wallet Loses ,300,000 Worth of Crypto in Apparent Address Poisoning Scam
Altcoins
Wrapped Bitcoin (WBTC) Wallet Loses ,300,000 Worth of Crypto in Apparent Address Poisoning Scam

A crypto wallet lost $69.3 million worth of Wrapped Bitcoin (WBTC) in an apparent address-poisoning attack, according to the blockchain security firm CertiK. Address poisoning usually involves a scammer sending a wallet a tiny amount of crypto via an address that’s designed to look similar to the wallet’s, according to an explanation provided by Ledger, […]

The post Wrapped Bitcoin (WBTC) Wallet Loses $69,300,000 Worth of Crypto in Apparent Address Poisoning Scam appeared first on The Daily Hodl.

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<div>Bitcoin 'diamond hand' sell-off risks outpacing ETF inflows at K</div>

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

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